TORONTO–BMO has an expanded partnership with leading digital lending platform Blend, having participated as a strategic investor in the company’s recent Series E round. The expanded relationship will further accelerate the bank’s digital strategy in North America.
“Customers are telling us that they are looking for digital-first experiences, and working with Blend gives us the opportunity to find innovative ways to bring digital solutions to customers across their banking journey,” said Brett Pitts, Chief Digital Officer, BMO Financial Group. “Strategic partners like Blend are critical enablers to helping us accelerate and grow our digital strategy and, together, we will build leading customer experiences.”
“BMO has been an excellent partner as we work to transform the banking experience and help our clients deepen relationships with their customers,” said Tim Mayopoulos, President, Blend. “We look forward to continuing our work together to find innovative digital solutions that empower people to take ownership of their financial lives and reach their goals.”
BMO is currently working with Blend to deliver digital mortgage and home equity experiences to customers in the U.S. As part of this partnership, the bank will continue exploring opportunities to digitize and accelerate more parts of the banking journey for customers in both Canada and the U.S.
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $830 billion as of April 30, 2019, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Blend makes the process of getting a loan simpler, faster, and safer. With its digital lending platform, Blend helps financial institutions including Wells Fargo and U.S. Bank increase productivity and deliver exceptional customer experiences. The company regularly processes nearly $2 billion in mortgages and consumer loans daily, helping millions of consumers get into homes and gain access to the capital they need to lead better lives.